Dhaka, April 23: Minister of State for Foreign Affairs Mohammed Shahriar Alam has said that Bangladesh “never will” ask China for more loans and will find alternate ways to fund future development. Minister said while speaking to a leading daily that any amount of debt can be “dangerous” for countries not achieving high economic growth.

During Chinese President Xi Jinping’s visit to Bangladesh in 2016, the two governments signed 27 agreements for investments and loans, amounting to a reported US$24 billion. There were reports that these loans would be creating debt trap for Bangladesh. When Minister was asked wether Bangladesh will ask for more loan fron China he said “never had this intention and never will ask for more loans”.

“We have signed many projects with multiple companies and countries,” he said. “We are devising new financial mechanisms. That’s how we want to finance our future,” Alam said.